KKR to Wrap Up $6B Asian Fund, but TPG's $4B Vehicle Lags Behind

As New York firm Kohlberg Kravis Roberts & Co . prepares to formally close a $6 billion pan-Asian fund, its peer TPG Capital is still around a quarter of the way to securing a $4 billion vehicle that will also be invested across the region.

Both brand-name buyout houses have been out in the market, spending the bulk of last year tapping limited partners for new capital. In 2012 many private equity firms struggled to attract allocations from LPs, which grew increasingly concerned about firms' ability to achieve returns and exit portfolio companies....